Answer below questions and predict your rank
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

what is the difference between accural / mercantile basis and cash basis? Give an example

Open uri20170510 32134 1k0mj0y?1494421740 asked

    0       1 Answer Now Comment Report
2 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Hi! If you want to know answer to this question, go to  olymp trade broker, and I'm sure you'll find what you looking for.

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Picsjoin 2017224123730582 answered

Hie Praveen, **Difference between Accrual/Mercantile basis & Cash Basis is :-** 1. The main difference between these two forms of accounting goes right back to timing. Of course, timing has a partner here. It is called revenue recognition. Cash basis only records revenue when cash is received, and not a moment before. It also only recognizes an expense when cash has been paid out. So, even if a bill is sitting on your desk, if it has not been paid, it is not considered an expense in cash basis accounting - at least not until you write a check to pay that bill. 2. In the accrual basis, revenue is recognized when it is earned and not when it is received. Expenses are recognized when bills are received regardless of when they're paid. 3. Another pretty important difference in these two forms of accounting is how well cash is tracked. Cash-basis accounting does an excellent job of tracking cash flow because it records the inflows and outflows only when they occur. However, it does a horrible job of matching revenues and expenses in the accounting period that they occur. 4. Accrual basis does an excellent job of matching revenues and expenses and a poor job of tracking cash flow because it recognizes income before it is received and expenses before they're paid. 5. A third example of differences between these two types of accounting methods is this: in order for a company to use cash-basis accounting, it can't sell items using in-house charge accounts that would result in an account receivable. It must only accept cash, check or credit cards as payment. Under the accrual basis of accounting, the company does have accounts receivables. **Example :-** Emmie owns a clothing boutique. Her friend comes and buy $250 worth of designer clothes and charges them to her store account. Now transaction cannot be recorded as cash basis because no money changed hands, and there is nothing to record cash basis transaction. However, using accrual method of accounting, there is an information to be recorded. The accounts receivable account will be debited $250 and inventory account will be credited.

    3       1 Comment Report
Get Notifications
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.